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Kellanova（K）与Masco（MAS）财务数据对比。点击上方公司名可切换其他公司
Kellanova的季度营收约是Masco的1.7倍（$3.3B vs $1.9B），Masco净利率更高（11.9% vs 9.5%，领先2.4%），Masco同比增速更快（6.5% vs 0.8%），过去两年Masco的营收复合增速更高（-4.2% vs -9.0%）
Kellanova前身为知名食品企业家乐氏，是玛氏集团旗下的美国跨国食品制造公司，总部位于美国伊利诺伊州芝加哥。2023年10月2日公司正式启用现名，同步拆分北美谷物业务，独立成立WK Kellogg Co。
美国家居建材企业Masco主营家装及新建住宅市场相关产品，旗下拥有20余家子公司，在全球运营近80座生产工厂，其中美国本土近60座，海外地区超20座。公司1969年于纽交所挂牌上市，后实现快速增长，成功跻身美国财富500强榜单。
K vs MAS — 直观对比
营收规模更大
K
是对方的1.7倍
$1.9B
营收增速更快
MAS
高出5.7%
0.8%
净利率更高
MAS
高出2.4%
9.5%
两年增速更快
MAS
近两年复合增速
-9.0%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $1.9B |
| 净利润 | $309.0M | $228.0M |
| 毛利率 | 33.3% | 35.8% |
| 营业利润率 | 13.9% | 16.5% |
| 净利率 | 9.5% | 11.9% |
| 营收同比 | 0.8% | 6.5% |
| 净利润同比 | -15.8% | 14.5% |
| 每股收益（稀释后） | $0.88 | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收KMAS
| Q1 26 | — | $1.9B | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | $3.3B | $1.9B | ||
| Q2 25 | $3.2B | $2.1B | ||
| Q1 25 | $3.1B | $1.8B | ||
| Q4 24 | $3.1B | $1.8B | ||
| Q3 24 | $3.2B | $2.0B | ||
| Q2 24 | $3.2B | $2.1B |
净利润KMAS
| Q1 26 | — | $228.0M | ||
| Q4 25 | — | $165.0M | ||
| Q3 25 | $309.0M | $189.0M | ||
| Q2 25 | $299.0M | $270.0M | ||
| Q1 25 | $304.0M | $186.0M | ||
| Q4 24 | $365.0M | $182.0M | ||
| Q3 24 | $367.0M | $167.0M | ||
| Q2 24 | $344.0M | $258.0M |
毛利率KMAS
| Q1 26 | — | 35.8% | ||
| Q4 25 | — | 33.9% | ||
| Q3 25 | 33.3% | 34.2% | ||
| Q2 25 | 34.0% | 37.6% | ||
| Q1 25 | 34.3% | 35.8% | ||
| Q4 24 | 37.7% | 34.8% | ||
| Q3 24 | 36.4% | 36.6% | ||
| Q2 24 | 36.4% | 37.5% |
营业利润率KMAS
| Q1 26 | — | 16.5% | ||
| Q4 25 | — | 13.8% | ||
| Q3 25 | 13.9% | 15.8% | ||
| Q2 25 | 13.7% | 20.1% | ||
| Q1 25 | 13.9% | 15.9% | ||
| Q4 24 | 17.0% | 15.9% | ||
| Q3 24 | 14.1% | 18.0% | ||
| Q2 24 | 15.4% | 19.0% |
净利率KMAS
| Q1 26 | — | 11.9% | ||
| Q4 25 | — | 9.2% | ||
| Q3 25 | 9.5% | 9.9% | ||
| Q2 25 | 9.3% | 13.2% | ||
| Q1 25 | 9.9% | 10.3% | ||
| Q4 24 | 11.7% | 10.0% | ||
| Q3 24 | 11.4% | 8.4% | ||
| Q2 24 | 10.8% | 12.3% |
每股收益（稀释后）KMAS
| Q1 26 | — | — | ||
| Q4 25 | — | $0.81 | ||
| Q3 25 | $0.88 | $0.90 | ||
| Q2 25 | $0.85 | $1.28 | ||
| Q1 25 | $0.87 | $0.87 | ||
| Q4 24 | $1.05 | $0.85 | ||
| Q3 24 | $1.05 | $0.77 | ||
| Q2 24 | $1.00 | $1.17 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $240.0M | — |
| 总债务越低越好 | $4.3B | $2.9B |
| 股东权益账面价值 | $4.2B | $27.0M |
| 总资产 | $15.6B | $5.2B |
| 负债/权益比越低杠杆越低 | 1.02× | 109.07× |
8季度趋势，按日历期对齐
现金及短期投资KMAS
| Q1 26 | — | — | ||
| Q4 25 | — | $647.0M | ||
| Q3 25 | $240.0M | $559.0M | ||
| Q2 25 | $354.0M | $390.0M | ||
| Q1 25 | $330.0M | $377.0M | ||
| Q4 24 | $694.0M | $634.0M | ||
| Q3 24 | $569.0M | $646.0M | ||
| Q2 24 | $272.0M | $398.0M |
总债务KMAS
| Q1 26 | — | $2.9B | ||
| Q4 25 | — | $2.9B | ||
| Q3 25 | $4.3B | — | ||
| Q2 25 | $4.3B | — | ||
| Q1 25 | $5.0B | — | ||
| Q4 24 | $5.0B | $2.9B | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $5.0B | — |
股东权益KMAS
| Q1 26 | — | $27.0M | ||
| Q4 25 | — | $-185.0M | ||
| Q3 25 | $4.2B | $-78.0M | ||
| Q2 25 | $4.1B | $-84.0M | ||
| Q1 25 | $3.9B | $-254.0M | ||
| Q4 24 | $3.8B | $-279.0M | ||
| Q3 24 | $3.6B | $-88.0M | ||
| Q2 24 | $3.3B | $-26.0M |
总资产KMAS
| Q1 26 | — | $5.2B | ||
| Q4 25 | — | $5.2B | ||
| Q3 25 | $15.6B | $5.3B | ||
| Q2 25 | $15.9B | $5.3B | ||
| Q1 25 | $15.5B | $5.1B | ||
| Q4 24 | $15.6B | $5.0B | ||
| Q3 24 | $15.8B | $5.3B | ||
| Q2 24 | $15.3B | $5.4B |
负债/权益比KMAS
| Q1 26 | — | 109.07× | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.02× | — | ||
| Q2 25 | 1.05× | — | ||
| Q1 25 | 1.28× | — | ||
| Q4 24 | 1.32× | — | ||
| Q3 24 | 1.40× | — | ||
| Q2 24 | 1.51× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $503.0M | — |
| 自由现金流经营现金流 - 资本支出 | $359.0M | — |
| 自由现金流率自由现金流/营收 | 11.0% | — |
| 资本支出强度资本支出/营收 | 4.4% | 1.8% |
| 现金转化率经营现金流/净利润 | 1.63× | — |
| 过去12个月自由现金流最近4个季度 | $599.0M | — |
8季度趋势，按日历期对齐
经营现金流KMAS
| Q1 26 | — | — | ||
| Q4 25 | — | $418.0M | ||
| Q3 25 | $503.0M | $456.0M | ||
| Q2 25 | $169.0M | $306.0M | ||
| Q1 25 | $116.0M | $-158.0M | ||
| Q4 24 | $467.0M | $407.0M | ||
| Q3 24 | $553.0M | $416.0M | ||
| Q2 24 | $376.0M | $346.0M |
自由现金流KMAS
| Q1 26 | — | — | ||
| Q4 25 | — | $371.0M | ||
| Q3 25 | $359.0M | $415.0M | ||
| Q2 25 | $21.0M | $270.0M | ||
| Q1 25 | $-60.0M | $-190.0M | ||
| Q4 24 | $279.0M | $351.0M | ||
| Q3 24 | $410.0M | $378.0M | ||
| Q2 24 | $234.0M | $303.0M |
自由现金流率KMAS
| Q1 26 | — | — | ||
| Q4 25 | — | 20.7% | ||
| Q3 25 | 11.0% | 21.6% | ||
| Q2 25 | 0.7% | 13.2% | ||
| Q1 25 | -1.9% | -10.5% | ||
| Q4 24 | 8.9% | 19.2% | ||
| Q3 24 | 12.7% | 19.1% | ||
| Q2 24 | 7.3% | 14.5% |
资本支出强度KMAS
| Q1 26 | — | 1.8% | ||
| Q4 25 | — | 2.6% | ||
| Q3 25 | 4.4% | 2.1% | ||
| Q2 25 | 4.6% | 1.8% | ||
| Q1 25 | 5.7% | 1.8% | ||
| Q4 24 | 6.0% | 3.1% | ||
| Q3 24 | 4.4% | 1.9% | ||
| Q2 24 | 4.4% | 2.1% |
现金转化率KMAS
| Q1 26 | — | — | ||
| Q4 25 | — | 2.53× | ||
| Q3 25 | 1.63× | 2.41× | ||
| Q2 25 | 0.57× | 1.13× | ||
| Q1 25 | 0.38× | -0.85× | ||
| Q4 24 | 1.28× | 2.24× | ||
| Q3 24 | 1.51× | 2.49× | ||
| Q2 24 | 1.09× | 1.34× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
K
| Retail Channel Snacks | $2.0B | 62% |
| Retail Channel Cereal | $678.0M | 21% |
| Noodlesand Other | $280.0M | 9% |
| Frozen And Specialty Channels | $275.0M | 8% |
MAS
暂无分部数据
